Traders sold shares of Quest Diagnostics Inc (NYSE:DGX) on strength during trading on Tuesday following insider selling activity. $30.80 million flowed into the stock on the tick-up and $55.87 million flowed out of the stock on the tick-down, for a money net flow of $25.07 million out of the stock. Of all equities tracked, Quest Diagnostics had the 0th highest net out-flow for the day. Quest Diagnostics traded up $0.70 for the day and closed at $104.79Specifically, EVP J. E. Davis sold 63,880 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $98.68, for a total value of $6,303,678.40. Following the transaction, the executive vice president now owns 101,423 shares in the company, valued at approximately $10,008,421.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP J. E. Davis sold 494 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $102.74, for a total transaction of $50,753.56. Following the completion of the transaction, the executive vice president now owns 41,691 shares in the company, valued at approximately $4,283,333.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,062 shares of company stock worth $20,161,610. 1.75% of the stock is currently owned by company insiders.
A number of brokerages have weighed in on DGX. Zacks Investment Research raised Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Jefferies Group set a $98.00 target price on Quest Diagnostics and gave the stock a “hold” rating in a research report on Saturday, November 25th. Evercore ISI began coverage on Quest Diagnostics in a research report on Thursday, January 4th. They issued an “in-line” rating and a $103.00 target price for the company. Canaccord Genuity reissued a “buy” rating and issued a $110.00 target price on shares of Quest Diagnostics in a research report on Tuesday, January 16th. Finally, Mizuho set a $113.00 target price on Quest Diagnostics and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. Quest Diagnostics has a consensus rating of “Hold” and a consensus target price of $107.40.
The stock has a market cap of $14,050.00, a PE ratio of 21.79, a P/E/G ratio of 1.87 and a beta of 0.67. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Wednesday, April 4th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 3rd. This represents a $2.00 annualized dividend and a dividend yield of 1.94%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.45. Quest Diagnostics’s dividend payout ratio is presently 38.05%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DGX. Wagner Wealth Management LLC purchased a new stake in shares of Quest Diagnostics during the 4th quarter valued at about $106,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Quest Diagnostics in the 4th quarter worth approximately $118,000. Cerebellum GP LLC purchased a new stake in Quest Diagnostics in the 4th quarter worth approximately $128,000. Assetmark Inc. increased its holdings in Quest Diagnostics by 139.5% in the 4th quarter. Assetmark Inc. now owns 1,473 shares of the medical research company’s stock worth $145,000 after acquiring an additional 858 shares in the last quarter. Finally, Icon Wealth Partners LLC purchased a new stake in Quest Diagnostics in the 4th quarter worth approximately $147,000. 88.67% of the stock is owned by hedge funds and other institutional investors.
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Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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